Happy December to you all! We have Christmas just around the corner, along with a myriad of other holidays too, not to mention a new year coming up. I can’t help at this point to but trade with one eye on Christmas and the time that I will get to spend with family and friends.
Heading into the open the bulls seems to be getting an early start on things with the Dow futures up 65 points followed by 13.5 on the Nasdaq and 7 points on the S&P. Overnight, the Asian markets saw huge rallies between 1.3% and 2.4%, while European markets are currently trading over 1.5% on average. On the economic front we have ICSC Goldman Store Sales at 7:45am EST, followed by the Redbook at 8:55, ISM Manufacturing Index, Pending Home Sales, and Construction Spending at 10am.
Looks like the bulls are buying the dip once again – but can they make new highs like they usually do?
Here are Today’s Trade Setups:
Bullish Candle Setups: BGG, HELE, AIR, CHUX, TRAD, LUK, PLL, PNFP, PSB, OXPS, HEES, RVBD, VQ
Bearish Candle Setups: FIT, ALTH, RGNC
Stocks Ready to Bounce: CEDC, DY, ACE
Stocks Ready to Pullback: IWA, NRP
Breakout Stocks: EBAY, HUN, NTT, TTM,
Breakdown Stocks: USMO, FL, CTV, DBD, PLT, CPHD, SHLM
